Wednesday 20th April 2022
Excerpt from 'Due Diligence is time-consuming but ignore it at your peril' which quotes Louise Reynolds
'Investors and landlords have been urged not to skimp on research and detective work when sourcing new business opportunities in order to prevent falling victim to scams.
Louise Reynolds, director of Property Venture whose firm helps expats and professionals through a bespoke property sourcing service, tells LandlordZONE that many people are coming a cropper when they’re new to property investing. “They’re more trusting than experienced landlords and investors,” she explains. “There are certainly more people out there who are ready to hoodwink novices with a sales spiel.”
Reynolds joined Landlord Action’s Paul Shamplina, landlord Patricia Ogunfeibo and Hayley Andrews from Your Freedom Empire at the recent Property Investor show in London, to talk about due diligence, offering tips for landlords when dealing with new tenants and for investors looking to do business with individuals and companies.
Reynolds explained how a recent search on social media and LinkedIn had revealed a gap in a prospective developer’s profile which coincided with a period working at a different company which had gone bust. This rang alarm bells and prompted more digging. She advised: “When you’re checking people out, it’s what’s missing as much as what’s there. Some people supress information.” She said it was wise to get three points of information before signing up to anything, so that investors were not just relying on Companies House data or one person’s review......'
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Property Venture® is an award-winning, Boutique investment property specialist that helps time-strapped entrepreneurs and expats enrich their lives through property investment in Europe.
Members of the Property Redress Scheme (PRS). On the Advisory Board and a Member of the Association of International Property Professionals (AIPP) the business has been vetted, approved and voluntarily commits to Industry Regulation and the Professional Code of Conduct. We are known for our quality customer service and non-pressurised approach to sales. Take a look at what our clients say